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Platform Accounting

Platform accounting manages all financial transactions, prize pools, and fee structures within the BingBang platform.

Overview​

Platform accounting handles:

  • Entry fee collection
  • Prize pool distribution
  • Platform fees
  • Transaction tracking
  • Financial reporting

Transaction Types​

1. Entry Fees​

  • Player contributions
  • Host participation
  • Duel challenges
  • Prize pool building

2. Prize Distribution​

  • Winner payouts
  • Host fees
  • Platform fees
  • Refund processing

3. Fee Structure​

{
  entry_fee: number;         // Player entry amount
  platform_fee: number;      // Platform percentage
  host_fee: number;          // Host percentage
  processing_fee: number;    // Payment processing
  total_fees: number;        // Combined fees
  prize_pool: number;        // Available prize
}

Prize Pool Calculation​

Basic Formula​

prize_pool = total_entries - platform_fees - host_fees - processing_fees

Fee Breakdown​

  • Platform fee: 5%
  • Host fee: 0-5%
  • Processing fee: 2.9% + $0.30
  • Total max fees: 12.9% + $0.30

Transaction Flow​

1. Entry Collection​

  • Player initiates entry
  • Fee calculation
  • Payment processing
  • Prize pool update

2. Prize Distribution​

  • Winner selection
  • Fee deduction
  • Prize calculation
  • Payment processing

3. Record Keeping​

  • Transaction logging
  • Status tracking
  • Audit trail
  • Financial reports

Financial Reports​

For Players​

  • Entry history
  • Prize winnings
  • Transaction log
  • Balance tracking

For Hosts​

  • Game revenue
  • Host fees
  • Prize pools
  • Transaction history

For Admins​

  • Platform revenue
  • Fee analysis
  • Transaction audit
  • Financial overview

Best Practices​

For Players​

  • Track entries
  • Monitor winnings
  • Review transactions
  • Keep records

For Hosts​

  • Monitor revenue
  • Track fees
  • Review payouts
  • Maintain records

For Admins​

  • Monitor transactions
  • Review reports
  • Track revenue
  • Handle disputes

Common Questions​

How are fees calculated?​

  • Percentage based
  • Fixed amounts
  • Combined structure
  • Automatic processing

What happens to unclaimed prizes?​

  • Hold period
  • Refund process
  • Platform handling
  • Status tracking

How are transactions verified?​

  • Payment provider
  • System validation
  • Audit trail
  • Financial reports

Next Steps​